EmailStory Stocks®
Archive
Last Update: 05-Feb-13 12:05 ET
Baidu.com Down 10.5% Following Earnings/Guidance Results
Baidu.com (BIDU $95.95 -11.25) Reports Q4 (Dec) GAAP earnings of $1.28 per share, in-line with the Capital IQ Consensus Estimate consensus of $1.28; revenues rose 41.6% year/year to $1.02 bln vs the $1 bln consensus. Online marketing revenues for the fourth quarter of 2012 were RMB6.288 bln ($1.009 bln), representing a 40.8% increase from the corresponding period in 2011. Baidu had about 406,000 active online marketing customers in Q4, representing a 30.5% increase from the corresponding period in 2011 and a 4.1% increase from the previous quarter. Revenue per online marketing customer for the fourth quarter of 2012 was ~RMB15,500 ($2,488), a 7.6% increase from the corresponding period in 2011 and a 3.1% decrease from the previous quarter.
Traffic acquisition cost (TAC) as a component of cost of revenues was RMB606.8 mln ($97.4 mln), representing 9.6% of total revenues, as compared to 7.9% in the corresponding period in 2011 and 8.6% in the third quarter of 2012. The increase mainly reflects increased contextual ads contributions and hao123 promotions through our network. Bandwidth costs as a component of cost of revenues were RMB337.2 mln ($54.1 mln), representing 5.3% of total revenues, compared to 4.3% in the corresponding period in 2011. Content costs as a component of cost of revenues were RMB120.3 mln ($19.3 mln), representing 1.9% of total revenues, compared to 0.6% in the corresponding period in 2011.
The co issued in-line guidance for Q1 (Mar), sees Q1 (Mar) revs of $945.4-975.9 vs. $958.89 mln Capital IQ Consensus Estimate.
Traffic acquisition cost (TAC) as a component of cost of revenues was RMB606.8 mln ($97.4 mln), representing 9.6% of total revenues, as compared to 7.9% in the corresponding period in 2011 and 8.6% in the third quarter of 2012. The increase mainly reflects increased contextual ads contributions and hao123 promotions through our network. Bandwidth costs as a component of cost of revenues were RMB337.2 mln ($54.1 mln), representing 5.3% of total revenues, compared to 4.3% in the corresponding period in 2011. Content costs as a component of cost of revenues were RMB120.3 mln ($19.3 mln), representing 1.9% of total revenues, compared to 0.6% in the corresponding period in 2011.
The co issued in-line guidance for Q1 (Mar), sees Q1 (Mar) revs of $945.4-975.9 vs. $958.89 mln Capital IQ Consensus Estimate.
